OVATO (OVT)

Overview

Ovato digital currency is the first decentralized ecosystem to discover, create and analyze advertising campaigns with social media influencers.

Project stage

Only a whitepaper

Detailed description

With the introduction of a universal token for loyalty-reward, earning, and giving, the Ovato Token provides the perfect solution to the challenges facing today’s loyalty rewards programs. The token, along with its associated applications, will offer both consumers and businesses with a far more compelling proposition and greater incentives to conduct transactions securely, and at signifcantly reduced costs. As a result, the residual value of benefts will be strengthened for all participants.

Problem

The Problem With Traditional loyalty And Rewards ProgramsTraditional loyalty reward programs are costly, imposing significant tax liabilities on operators while offering only a modest value to consumers. This is evidenced by the fact that while loyalty memberships are high, an average of two-thirds of these subscribers are inactive. Although loyalty programs have become expected among consumers, lacking user enthusiasm dilutes the program value for consumers and businesses alike. Conventional loyalty operations are also hampered by the barter economics of the pre-blockchain monetary system.

The Problem with Conventional Social MediaThere is an increasing awareness among social media users on how social network brands monetize their data, and users are growing frustrated for getting zero compensation for it. As the world becomes increasingly fatter, there is a natural tendency for an increasing desire for these citizen journalists and infuencers to get their share of compensation for their participation.

The Problem with Giving and CharityIt’s safe to say that most human beings want to give and help the less fortunate and causes that are important to them. However, with centralized charities, 90 percent of donations never actually make it to the intended place. The problem does not originate from nonprofts specifcally, but more from ineffciencies found in centralized organizations that also have no proft incentive to scale. The net resulting percentage of waste is enormous

Solution

With the introduction of a universal token for loyalty-reward, earning, and giving, the Ovato Token provides the perfect solution to the challenges facing today’s loyalty rewards programs.

The token, along with its associated applications, will offer both consumers and businesses with a far more compelling proposition and greater incentives to conduct transactions securely, and at signifcantly reduced costs. As a result, the residual value of benefts will be strengthened for all participants.

Ovato provides a unique and secure solution on the blockchain using an ERC20 token, and a limited number of tokens will be issued. Distribution of Ovato tokens through mainstream merchants to their existing customer base will create a network effect benefcial to anyone holding them. The current estimated worth of the loyalty reward industry is $65 billion and is forecast to grow to $100 billion by the year 2020.

Features

Security100% safe escrow transactions based on cryptocurrency tokens.

No barrier to entryAccessible even for new businesses and influencers at earliest stages of social presence.

Smart partnershipManaged by smart contracts and a decentralized dispute solution.

Additional links

Token details

Token symbol
? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. :OVT

Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 13,000,000 OVT

Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)

Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA

Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token

Total supply ? Total supply — a total amount of tokens that will be released by the developers. :NA

Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No

Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :NA

Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Open

Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No

Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA

Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BTC, DASH, ETH, LTC,

Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :China, South Korea,

Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes

Activity

Social

We search, collect and organize information about different crypto
assets projects to make it easier for you to use it. The website does
not provide financial advice. Cryptoassetsrank is not responsible for
any trading decisions.